The military simulation and training market is estimated to be USD 10.31 Billion in 2016 and is projected to reach USD 12.67 Billion by 2021, at a CAGR of 4.20% during the forecast period. The base year considered for the study is 2015 and the forecast period is from 2016 to 2021.

Objectives of the Study:

The objectives of this study are to analyze the military simulation and training market, along with statistics from 2016 to 2021 as well as to define, describe, and forecast the military simulation and training market on the basis of application- airborne (jet flight, rotary flight and UAV flight), naval (ship bridge, submarine and others), and ground (battlefield, combat, ground vehicle and others), training type -live, virtual, constructive, and gaming simulation, and map these segments and subsegments across major regions, namely, North America, Europe, Asia-Pacific, the Middle East, Latin America, and Africa.

The report provides in-depth market intelligence regarding market dynamics and major factors influencing the growth of the military simulation and training market (drivers, restraints, opportunities, and industry-specific challenges), along with analyzing micromarkets with respect to individual growth trends, future prospects, and their contribution to the military simulation and training market.

The report also covers competitive developments, such as long-term contracts, joint ventures, mergers, new product launches and developments, and research & development activities in the military simulation and training market, in addition to business and corporate strategies adopted by key market players.

Research Methodology:

The research methodology used to estimate and forecast the military simulation and training market begins with obtaining data on key military simulators & training equipment revenues through secondary sources, such as United States Department of Defense and journals/magazines, such as MS&T Magazine. The military simulation & training systems offerings are also taken into consideration to determine market segmentation. The bottom-up procedure was employed to arrive at the overall military simulation and training market size from the revenues of key players in the market. After arriving at the overall market size, the total market was split into several segments and subsegments, which were then verified through primary research by conducting extensive interviews with market experts, such as CEOs, VPs, directors, and executives. These data triangulation and market breakdown procedures were employed to complete the overall military simulation and training market engineering process, and arrive at the exact statistics for all segments and subsegments. Breakdown of profiles of primaries is depicted in the below figure:

4 Premium Insights (Page No. - 38) 4.1 Attractive Opportunities in the Military Simulation and Training Market 4.2 Military Simulation and Training Market, By Application 4.3 Middle East Military Simulation and Training Market, By Application 4.4 Military Simulation and Training Market, By Region 4.5 Military Simulation and Training Market, By Training Type 4.6 Life Cycle Analysis, By Region

5 Market Overview (Page No. - 42) 5.1 Introduction 5.2 Market Segmentation 5.2.1 Military Simulation and Training Market, By Application 5.2.2 Military Simulation and Training Market, By Training Type 5.3 Market Dynamics 5.3.1 Drivers 5.3.1.1 Increasing Political Disputes and Civil Unrest Across the Globe 5.3.1.2 Adoption of Virtual Training to Ensure Safety of Trainees and Cost-Effectiveness 5.3.1.3 Reduction in Military Budgets in Developed Countries, Paving Way for Simulator Training Practices 5.3.2 Restraints 5.3.2.1 High Complexity of Simulator Systems 5.3.2.2 Concerns Related to Simulation Training 5.3.3 Opportunities 5.3.3.1 Evolution of Simulators for Unmanned Aerial Systems (UAS) 5.3.3.2 Technological Advancements in the Field of Military Simulators 5.3.3.3 Increasing R&D Activities in the Field of Military Simulation and Training 5.3.3.4 Increasing Defense Expenditures in the Emerging Economies 5.3.4 Challenges 5.3.4.1 Challenges for Manufacturers of Simulators 5.3.4.2 Lack of Interoperability

The military simulation and training market is projected to grow from USD 10.31 Billion in 2016 to USD 12.67 Billion by 2021, at a CAGR of 4.20% during the forecast period. Factors, such as increasing political disputes and civil unrest, adoption of virtual training to ensure safety and cost-benefits, and decline in military budgets of developed countries are driving the growth of the military simulation and training market.

Based on application, the military simulation and training market has been segmented into - airborne (jet flight, rotary flight and UAV flight), naval (ship bridge, submarine and others), and ground (battlefield, combat, ground vehicle and others). The ground application segment is projected to grow at the highest CAGR during the forecast period, primarily driven by the rising investment for military ground equipment from emerging economies.

Based on training type, the military simulation and training market has been segmented into live, constructive, virtual, and gaming solution. The live training segment dominates the studied market and is expected to continue its dominance during the next five years, as live training provides realistic simulations that involve real people operating real systems.

The APAC region is expected to grow at the highest rate during the forecast period. Countries in the region, such as India and China have increased their military budgets and are increasingly procuring military equipment. As a result, there is a need to provide training to military personnel, which is expected to drive the military simulation and training market.

Factors, such as complexity of simulator systems, lack of interoperability, concerns with simulation training, and difficulty for manufacturers to keep pace with the growing simulation industry may inhibit the growth of the military simulation and training market.

Contract was the key strategy adopted by the industry players to achieve growth in the military simulation and training market. This strategy accounted for a major share of the total growth strategies adopted by the leading players in 2015. For instance, in April 2016, L-3 Communications Holdings, Inc. (U.S.) received a contract from the Polish Ministry of National Defence Support Directorate to supply F-16 Trainer Support.

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